Clearing organization.
Clearing organization. Clearing organization means the foreign board of trade, affiliate of the foreign board of trade or any third party clearing house, clearing association, clearing corporation or similar entity, facility or organization that, with respect to any agreement, contract or transaction executed on or through the foreign board of trade, would be:
(1) Defined as a derivatives clearing organization under section 1a(15) of the Act; or
(2) Defined as a central counterparty by the Recommendations for Central Counterparties.